MARIETTA, GA. — Avison Young has arranged a nearly 62,000-square-foot lease for office space at 1600 Terrell Mill Road in Marietta, a northwest suburb of Atlanta. The tenant, First Data Corp., is a publicly traded finance technology firm. First Data signed the seven-year lease agreement with the undisclosed owner. Ben Parker, Rick Nash and Jillian Woodliff of Avison Young’s Atlanta office represented the owner in the lease transaction.
ORLANDO AND TAMPA, FLA. — The PRISA Group and Peachtree Hotel Group have partnered to develop three hotels in Florida, including a dual-branded hotel development in Orlando and a new hotel in Tampa’s Westshore district. The properties include the dual-brand SpringHill Suites by Marriott Orlando/Mall at Millenia and Residence Inn by Marriot Orlando/ Mall at Millenia and the 175-room AC Hotel by Marriott Tampa/Airport – Westshore. The dual-branded project will feature 120 SpringHill Suites rooms, 134 Residence Inn rooms, a resort-style pool with a bar, game area with large board games and a lounge with water and fire features. Other amenities will include complimentary breakfast, a 24-hour market, lobby bar, complimentary Wi-Fi, fitness center and two meeting rooms totaling 1,600 square feet. Amenities at the AC Hotel in Tampa include a market, two media salons, business/social events room, 900-square-foot fitness center, pool and pool bar, complimentary Wi-Fi and 2,300 square feet of meeting space. The properties are currently under construction with a planned opening date of December 2017. Marriott Corp. will manage the three hotels. The construction is being conducted by a partnership between PRISA Group and Orlando-based Welbro Building Corp. Miami-based Popular Community Bank provided construction financing for the …
GAINESVILLE, FLA. — Landmark Properties has unveiled The Standard at Gainesville, a 1,200-bed, mixed-use student housing community located near the University of Florida campus in Gainesville. The development will be connected to an AC by Marriott Hotel, and will be occupied by retailers including Target, Chick-fil-A and Bento Café. The 430-unit development will offer 22 different floor plans, ranging from studios to six-bedroom options, including two-story penthouse townhomes. Each unit will be wired for high-speed internet and cable, and will include a flat screen TV, gourmet kitchens with stainless steel appliances and granite countertops and a full-size washer and dryer. Community amenities will include rooftop pools and cabanas, a fitness center, racquetball court, golf simulator, computer labs, 24-hour study lounges and an internet café. Premium VIP units will also feature billiards tables and exclusive access to a private rooftop lounge and a second rooftop pool. The development is scheduled for completion in fall 2017. Pre-leasing for the property will begin this Thursday.
ORLANDO, FLA. AND ATLANTA — Blue Rock Partners LLC has purchased two apartment communities in Orlando and Atlanta totaling $44.4 million. The acquisitions included the $21 million purchase of the 320-unit Silver Oaks Apartments in Orlando and the $23.4 million purchase of the 450-unit Landings at Oak Hill in Atlanta. Blue Rock Partners purchased the Orlando asset from Madison Exchange LLC and the Atlanta complex from Chartwell Multifamily LLC. The Tampa-based company purchased both assets in partnership with Canadian investor Rosdev Group. Blue Rock plans to invest $5.8 million in interior and exterior upgrades at the two apartment communities. The company will also rebrand Silver Oaks as The Park at Highgate and Landings at Oak Hill as The Park at Morella. Marcus & Millichap brokered the sale of the Orlando community, and Cushman & Wakefield brokered the sale of the Atlanta project. Pembrook Capital Group provided acquisition financing for the Orlando community, and Wells Fargo Multifamily Capital provided acquisition financing for the Atlanta complex.
ATLANTA — Honeywell International Inc., a global technology company with ties to the aerospace and homebuilding industries, plans to build its Software Center in Midtown Atlanta, bringing more than 730 jobs software-focused jobs to the area over the next five years. The $20 million development will also house the company’s Home and Building Technologies headquarters, which will bring an additional 100 jobs to Atlanta while continuing to maintain a presence in Minnesota. Honeywell intends to invest $19 million in the site, which is set to open in the fourth quarter of this year. The company will also use $2 million in grants from the state of Georgia and Invest Atlanta, the city of Atlanta’s economic development arm. Honeywell also expects to use tax credits totaling more than $10 million, assuming the company hires as scheduled.
INVERNESS, ALA. — Branch Properties LLC has acquired two shopping centers in the Birmingham suburb of Inverness from Bayer Properties. The acquisitions include Inverness Corners, a 242,635-square-foot shopping center anchored by Winn-Dixie and Kohl’s; and Inverness Plaza, a 74,818-square-foot shopping center anchored by PGA Superstore and Planet Fitness. The adjacent centers were renovated last year. The sales price was not disclosed.
BIRMINGHAM, ALA. — Daniel Corp. has purchased the Financial Center office building, an 18-story, 311,201-square-foot tower located in downtown Birmingham’s Financial District. As part of the acquisition, Daniel Corp. will relocate its headquarters to the office building. Built in 1982, Financial Center is located at 505 20th St. North at the intersection of 20th Street and 5th Avenue. The seller was undisclosed, but AL.com reports Allegiance Realty Corp. purchased the asset in 2013 for an undisclosed price.
NASHVILLE, TENN. — HREC Investment Advisors has brokered the $31.6 million sale of the Holiday Inn Nashville Airport, a 383-room hotel located in Nashville. The hotel is situated two miles east of Nashville International Airport and eight miles from downtown Nashville. An affiliate of Fairwood Capital LLC purchased the hotel from FelCor Lodging Trust. Monty Levy, Bill Murney and Scott Stephens of HREC represented FelCor in the transaction. Fairwood Capital plans to rebrand the hotel.
NEWNAN, GA. — NorthMarq Capital has arranged a $27.8 million acquisition loan for a 2 million-square-foot distribution center located in Newnan, roughly 20 miles south of Hartsfield-Jackson Atlanta International Airport. The property was built, owned and occupied by Kmart for more than 30 years. Keith Braddish of NorthMarq Capital’s New York City office and Will James of the firm’s Atlanta office arranged the three-year loan through Ladder Capital on behalf of the undisclosed buyer.
CHATTANOOGA, TENN. — Dougherty Mortgage has arranged a $21.2 million Fannie Mae loan for the acquisition of The District at Hamilton, a 300-unit, market-rate apartment complex located in Chattanooga. The gated, pet-friendly property features a swimming pool, sundeck, grilling area, business center, athletic center and two lighted tennis courts. The interiors include Whirlpool appliances, window coverings, decks or sunrooms and built-in microwaves. Dougherty Mortgage’s Nashville office arranged the 15-year loan with a 30-year amortization schedule on behalf of the borrowers, Calhoun Shores LLC, Fremount House LLP and Hamilton Place CAG LLC.
